CAPITAL

Proposed 2023 budget: Low Commitment to Capital Spending

The proposed 2023 budget Bill was presented on October 07, 2022. While presenting the budget, President Muhammadu Buhari highlighted the revenue challenge, which may have influenced the size of the budget. This article uses nine charts to highlight the 2023 budget in relation to the amended 2022 budget at the aggregate level. In terms of […]

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Nigeria Economic Update (Issue 26)

The total value of capital importation into Nigeria amounted to US$ 8.49 billion in the first quarter of 20191. This represents a significant increase of 216% relative to 2018Q4 and   about 35% growth when compared to the corresponding quarter in 2018. The largest amount of capital importation by type was received through portfolio investment, which […]

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Nigeria Economic Update (Issue 24)

Foreign Direct Investment (FDI) flows into Nigeria contracted substantially in 2018. Figures from the United Nations Conference on Trade and Development (UNCTAD) show that FDI inflows dropped by a significant 43% to $2 billion in 20181, ripping Nigeria off the top position as the largest FDI recipient in West Africa, in favor of Ghana. Evidence […]

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Nigeria Economic Update (Issue 39)

Nigeria’s all products terms of trade (calculated as the receipts of exports as a percentage of payments for imports), indicated increases in the three months of 2018Q2. Indexed at an average of 110.8% in 2018Q21, the favourable TOT reflects improvement from an average of 99.2% in 2018Q1. A further breakdown shows that TOT indices for […]

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Nigeria Economic Update (Issue 35)

Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to $45.83 billion by August 23– losing as much as $1.23 billion in the month. The CBN’s continuous intervention along with affected foreign investment premised around […]

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Nigeria Economic Update (Issue 34)

Total capital imported into Nigeria declined in 2018Q2, compared to 2018Q1 – the first quarterly decline since 2017Q1. At $5.5 billion in 2018Q21, capital importation dropped by 12.5 percent from the $6.3 billion recorded in the preceding quarter. The quarter-over-quarter decline may be attributable to decreases in both portfolio and other investments, which fell by […]

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